Animoca Brands Acquires Stryking to Implement German Football League on NFT-Based Game
If the recent acquisitions are something to go by, then it's crystal clear that Animoca Brands is making an aggressive push into the blockchain gaming world. Animoca is a company which is related to information technology and has operations in creating apps for tablets as well as smartphones. Also, it publishes and develops games.
The company is indeed running on a white heat in the first quarter this year with an already secured collaboration with Lucid Sight and Formula One. As if that's not enough, today, the company announced the acquisition of Stryking.
Pushing into the World of Blockchain Gaming
Stryking is a Germany-based firm which brings all sports fans across the globe into real action. The company operates the fantasy sports platform, Football-Stars that provide football fans with a thrilling as well as diversified gaming experience on both mobile and web devices.
Animoca brands have now announced to have entered into a binding term sheet with Stryking to acquire 100% of its equity in exchange of 1 million euros payable in shares of Animoca brands and up to 2 million euros in earn-out payments in cash or shares with mutual consent.
Fantasy Sports Way to go for Blockchain Gaming and NFTs
First of all, Stryking holds a license from the “Bundesliga” the elite league in Germany, for rights to use the entire league's club logos as well as player pictures in Football-stars. Moreover, it includes players from across the globe including Series A, the 2nd Bundesliga, the English Premier League (EPL), Europa League, and Europe's Elite competition the Champions League.
Animoca Brands plan to implement blockchain gaming features in Football-Stars with Non-Fungible Tokes (NFTs). Blockchain gaming the NFTs is a new age thing which will drive ownership as well as efficient expansion into a 7 billion dollar Fantasy Sports industry.
Yat Siu, co-founder and Chairman of Animoca Brands, said that acquiring Stryking confirms their leadership in blockchain games, sports, and collectibles. He also mentioned on the honor of bringing on board Dirk and Hong who are veterans to assist with their experience.
On the other end, Dirk Weyel, founder and CEO of Stryking added that the partnership with Animoca brands which has an array of knowledge about NFT-based games would help enhance the Football stars platform.
Animoca Brands now looks only at implementing unique collectibles in blockchain gaming in the form of NFTs which would increase security as well as the chances of monetization from the blockchain game.